181,300 Shares in SSR Mining Inc. (NASDAQ:SSRM) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 181,300 shares of the basic materials company’s stock, valued at approximately $1,265,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cibc World Market Inc. grew its position in shares of SSR Mining by 22.1% in the fourth quarter. Cibc World Market Inc. now owns 3,730,876 shares of the basic materials company’s stock valued at $25,967,000 after purchasing an additional 674,793 shares during the last quarter. Two Sigma Advisers LP lifted its stake in SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock valued at $18,860,000 after buying an additional 462,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in SSR Mining by 399.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,162 shares of the basic materials company’s stock valued at $2,455,000 after buying an additional 345,568 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in SSR Mining by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock valued at $8,794,000 after buying an additional 220,349 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in SSR Mining by 115.9% during the third quarter. Martingale Asset Management L P now owns 407,996 shares of the basic materials company’s stock worth $2,317,000 after buying an additional 219,013 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on SSRM shares. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group raised their price target on shares of SSR Mining from $7.15 to $12.05 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. CIBC boosted their price objective on shares of SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada raised shares of SSR Mining from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, SSR Mining currently has an average rating of “Hold” and an average target price of $9.93.

SSR Mining Stock Performance

NASDAQ SSRM opened at $11.18 on Thursday. The business’s 50-day moving average price is $9.10 and its 200 day moving average price is $7.17. The company has a current ratio of 4.70, a quick ratio of 1.97 and a debt-to-equity ratio of 0.08. SSR Mining Inc. has a twelve month low of $3.94 and a twelve month high of $11.29. The company has a market capitalization of $2.26 billion, a PE ratio of -8.67, a price-to-earnings-growth ratio of 0.37 and a beta of 0.53.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.08). SSR Mining had a positive return on equity of 1.46% and a negative net margin of 26.24%. The company had revenue of $323.19 million for the quarter, compared to analysts’ expectations of $262.20 million. On average, research analysts predict that SSR Mining Inc. will post 0.73 earnings per share for the current year.

SSR Mining Company Profile

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.